- U.S Markets closed mixed on Friday.
- Dow Future's are now trading higher.
- SGX Nifty is lower by 40-50 Points.
- Our Market's witnessed a tremendous rally on Friday.
- Bank Nifty in particular witnessed huge short covering.
- There were many traders who went short on last Expiry ie , Thursday as Nifty and Bank Nifty closed more than a percent lower.
- All these shorters were taken to cleaners on Friday.
- In the past SBI results have changed the Market sentiment.
- Friday wasn't any different.
- SBI posted stellar results and carried Bank Nifty with itself.
- Nifty is just 2% away from its all time highs.
- Bank Nifty is away 7-9% from its all time highs.
- There's a catch up rally going on in Bank Nifty now.
- There is a good possibility that for this Expiry we might witness fresh highs on Nifty.
- There was a heavy Put writing taking place on Friday.
- Put option Premiums were already down by 60-70%.
- 15100 PE & 15000 PE in Particular have added high open interest.
- For this Expiry 15000 is a strong support.
- Any dips towards this level is a buying opportunity.
- Bank Nifty has a support near 34300 and next support near 34000.
- Resistance levels are near 35k for Bank Nifty.
- SBI is likely to continue positive momentum which keep strengthen Bank Nifty.
- Also Remember that this is the Monthly expiry week so things might turn Volatile.
- India VIX fell drastically on Friday and closed near 19 for the first time in 2021.
- Nifty might Trade between 15060 to 15280 today.
- stockmarketadvisory.in
1. U.S Markets closed higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't
Comments